Please talk to a trusted accountant,
lawyer or financial planner. Every
transaction is subjective and requires
careful planning. I hope these links
will give you a foundation for your individual
Check out this
of frequently asked questions you can download. Look at
IRS tax tables
for specific questions
from the IRS.
Take a look at
Home Gain Exclusion,
if you sold or exchanged your
home, you may be allowed to exclude up to $250,000 of gain ($500,000, for
certain married taxpayers filing a joint return) realized on the sale or
exchange of your main home.
Lawyers Title Company
offers services for a tax deferred
exchange. This has become popular with commercial and investment real estate transactions.
You may want to
defining basis, depreciation or
installment sales. There
is a wealth of information here. Apply this knowledge to your
own situation and get professional guidance.
Long and Foster Real
1405 S. Salisbury
Salisbury Maryland 21804
Office: 443-523-1336 Cell: 443-880-1994
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